The latest production and sales data from September 2024 reveals a mixed performance for the global automotive industry, with Japan’s market showing resilience amid declines in other regions. Despite steady growth in Japan, both global and overseas production declined year-on-year for the fourth consecutive month, underscoring ongoing challenges in key international markets.
Global production reached 264,211 units in September, a 10.2% decrease from last year. Japan’s output, comprising 87,907 units, fell 7.5% year-on-year, marking the second consecutive month of decline due to reduced domestic and export production. Overseas production recorded a sharper decline of 11.5%, led by decreases in India, which saw a 91.3% output, and other regions, which fell to 68.3%, marking their 19th consecutive month of reduction.
Japan’s Domestic Market Remains Strong
In contrast to the global downturn, Japan’s domestic sales saw growth for the ninth consecutive month, reaching 64,819 units—a 5.2% increase from last year. The rise was driven by continued demand for minivehicles, up 5.8%, and an increase in standard and small vehicles for the first time in two months. Overseas sales, however, declined 2.8%, driven by reduced demand in India and other markets despite gains in the Middle East.
Exports Rebound with 10.5% Growth
Exports from Japan posted a year-on-year increase of 10.5% for September, totaling 25,921 units, marking the first growth in two months. Both complete built-up (CBU) and complete knocked-down (CKD) exports contributed to this increase, driven by heightened international demand.
April to September Trends Reflect Japan’s Strength in Production and Sales
For the six-month period from April to September 2024, global production slightly increased by 0.8% year-on-year, totaling 1,616,273 units, while Japan’s production surged 6.9%, marking its third consecutive period of growth. Meanwhile, overseas production saw a slight decrease of 1.7% over the period, with strong production in India offsetting declines in Hungary and Indonesia.
Global sales for April to September reached 1,565,707 units, a 2.0% increase year-on-year, with Japan’s market accounting for 343,017 units—a rise of 9.7%. Japan’s performance was bolstered by record-high sales in minivehicles and an uptrend in the Middle East, which achieved record-breaking sales during the period.
Exports for the April-September period also increased significantly, up 14.4% year-on-year to 118,215 units, reflecting rising demand for CKD exports globally.
Japan’s Resilience Amid Global Market Fluctuations
Despite the slowdown in global production and overseas sales, Japan’s automotive industry has shown strong domestic demand and export growth, countering some of the challenges posed by international market fluctuations. With increased production capacity and sustained demand, Japan’s automotive market remains a key area of growth amid broader global challenges.
